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Showing posts with label alaska gold mining. Show all posts
Showing posts with label alaska gold mining. Show all posts

Friday, December 12, 2008

ITH Discovers New High-grade Gold Mineralization on West Pogo Project, Alaska

International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX VENTURE: ITH)(NYSE-A: THM)(FRANKFURT: IW9) is pleased to announce the discovery of high-grade gold mineralization at its West Pogo Project in Alaska. The Company's 2008 West Pogo exploration program has discovered a new area of high-grade gold mineralization to the east of earlier discoveries. Six of the 24 rock samples taken from this new zone returned greater than 1 g/t gold, ranging in grade from 1.2 to 118.5 g/t gold from sericitically altered granite and quartz vein material. This zone falls within an overall east-west trend of high-grade gold occurrences extending for some 25 kilometres within the Pogo Gold District (Figure 1).

To view Figure 1, please click on the following link: http://media3.marketwire.com/docs/Figure1ITH.jpg

Results

Previous exploration at West Pogo focused on the area on the western side of the property where historical sampling had encountered weakly anomalous rocks and soils. The 2008 program focused its effort on the eastern side of the property within a recently burned area which enhanced rock exposures. A train of mineralized granite float was encountered 150 metres northeast of the 2003 AngloGold Ashanti (U.S.A.) Exploration Inc. ("AngloGold") drill site with visible gold found in several pieces of float. Additional mineralized rocks and anomalous soils were found over an area extending over 700 metres to the east of the visible gold discovery. The mineralization consists of vuggy quartz veins and breccias in granite with strong sericitic and local tourmaline alteration. The mineralization has modest arsenic values and low bismuth values (Table 1).

Table 1: 2008 West Pogo Rock Samples with greater than 1 g/t Gold(i)
Gold Silver As Sb Bi Te
Sample ID Lithology (g/t) (g/t) (ppm) (ppm) (ppm) (ppm)
-----------------------------------------------------------------------
RK808448 vein 118.5 437.0 741 252 0.8 0.025
RK808440 granite 7.1 0.5 96 37 0.8 0.050
RK808452 granite 5.7 1.7 2910 108 0.6 0.090
RK808314 vein 2.1 1.6 438 48 0.2 0.050
RK803899 breccia-tectonic 1.9 8.5 128 233 1.7 0.025
RK808438 breccia-tectonic 1.2 0.6 213 49 0.3 0.025
(i) A total of 24 rock samples were taken from the new zone, ranging in
grade from nil to 118.5 g/t gold and averaging 5.54 g/t gold. Of
these samples, 54% exceeded 0.5 g/t gold and 25% exceeded 1 g/t gold.

The controls on mineralization are not well understood at the moment, however, the distribution of mineralized rocks and soils suggest the high-grade gold mineralization is related to an east-northeast structural zone along the margin of a granitic intrusive. This newly discovered high-grade mineralization is exciting in that it lies along a generalized east-west trend of district-scale gold occurrences that extend both east and west of the Pogo Mine. The Company plans to follow up on these highly encouraging results as time and resources become available.

West Pogo Project Summary

The West Pogo Project consists of a 20 square kilometre block of State of Alaska mining claims owned 100% by the Company and located 5 kilometres west of the Pogo Gold Mine. The bedrock geology consists of Paleozoic metamorphic rocks which have been intruded by younger, probably Cretaceous, granites. Gold mineralization was first discovered in the area in 1998 with the property being acquired by AngloGold in 2001. In 2003 a single hole was drilled by AngloGold which encountered wide zones of sericitic alteration and multiple zones of low-grade gold mineralization.

Qualified Person and Quality Control/Quality Assurance

Jeffrey A. Pontius (CPG 11044), a qualified person as defined by National Instrument 43-101, has supervised the preparation of the scientific and technical information that forms the basis for this news release. Mr. Pontius is the President and CEO of ITH.

The 2008 work program at West Pogo was designed and supervised by Dr. Russell Myers, Vice President of Exploration, Talon Gold (US) LLC (a wholly owned subsidiary of ITH responsible for carrying out the Company's exploration programs), who is responsible for all aspects of the work, including the quality control/quality assurance program. On-site personnel at the project photograph all sample shipments which are then sealed and shipped to ALS Chemex in Fairbanks, Alaska for preparation and on to Vancouver, B.C. for assay. ALS Chemex's quality system complies with the requirements for the International Standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Finally, representative blind duplicate samples are forwarded to ALS Chemex and an ISO compliant third party laboratory for additional quality control.

About International Tower Hill Mines Ltd.

International Tower Hill Mines Ltd. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum of early stage to advanced gold and base metal discoveries. ITH is committed to building shareholder value through new discoveries while maintaining a majority interest in its holdings, thereby giving its shareholders the maximum value for their investment.

On behalf of INTERNATIONAL TOWER HILL MINES LTD.

Jeffrey A. Pontius, President and Chief Executive Officer

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the anticipated content, commencement and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies, including those detailed above, and other risks identified in the Company's most recent Management Discussion and Analysis and Form 20F annual report. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and its US disclosure filings at www.sec.gov and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.

This press release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. The Company advises US investors that the US Securities and Exchange Commission's mining guidelines strictly prohibit information of this type in documents filed with the SEC. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

NR08-26



The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release, which has been prepared by management.

Contacts:
International Tower Hill Mines Ltd.
Quentin Mai
Vice-President - Corporate Communications
Toll Free: 1-888-770-7488 or (604) 683-6332
(604) 408-7499 (FAX)
Email: qmai@internationaltowerhill.com
Website: www.internationaltowerhill.com

Wednesday, November 19, 2008

Geoinformatics Announces New Discovery At Its Whistler Project in Alaska

TORONTO, Nov. 4 /CNW/ - Geoinformatics Exploration Inc. (TSX-V: GXL)
("Geoinformatics", "GXL" or the "Company") is pleased to announce that it has
intersected widespread mineralization in the first hole drilled on a regional
prospect called Raintree West, located approximately 1.5 km east of the
Whistler Zone which hosts a NI 43-101 compliant mineral resource estimate.

<<
Highlights

- First hole ever drilled at Raintree West intersected:

- 160 metres grading 0.59 g/t gold, 6.02 g/t silver, 0.10% copper,
0.20% lead, 0.46% zinc (or 1.26 g/t gold equivalent) including:
- 24 metres grading 1.37 g/t gold, 6.32 g/t silver, 0.13% copper,
0.36% lead, 0.80% zinc (or 2.42 g/t gold equivalent).
>>

Raintree West is one of several regional concealed targets drilled by
Geoinformatics during the 2008 summer field season. Assays are pending on
three remaining regional prospects and two holes from the Whistler Zone
itself.
"We are extremely pleased with the discovery of a new mineralized system
on the Whistler Project as it confirms the exploration potential and validates
the Company's innovative exploration techniques," said Mr. Darren Holden,
Chief Operating Officer of Geoinformatics. "We have long suspected that the
mineralization defined at the Whistler Zone is one of many related porphyry
systems on the project. This discovery of widespread porphyry hosted gold
mineralization at Raintree, with comparable grades to those of Whistler's Main
Zone, confirms this theory and bodes well for other similar discoveries to
further enhance the value of the overall Whistler Project."

Raintree West Prospect

The Raintree West prospect lies in a cluster of prospects identified by
the Company using proprietary targeting techniques. Raintree West exhibits a
comparable magnetic signature to that of the Whistler Zone with a coincident
induced polarization (IP) anomaly that extends over 800 metres in length.
Raintree West is a blind target, concealed by a thin veneer (5 metres) of
gravels in relatively flat ground.
Drill hole RN-08-06 was angled west to east and intersected diorite
porphyry rocks immediately below gravel overburden. The first 22 metres of the
diorite porphyry contained low-grade mineralization, below which visible
alteration and veining increased and was accompanied by visible copper, lead
and zinc sulphides over the next 190 metres. The hole remained in diorite
porphyry to the total depth of the hole at 300 metres.

Comment on Metal Ratios and Base Metal Content

Statistical analysis of the assay results shows that the gold in RN-08-06
is directly associated with copper mineralization, as is the case at Whistler.
However, Raintree West's assays exhibit a higher gold to copper ratio of
approximately 5:1 overall. Whistler's Main Zone shows gold to copper ratio of
4:1 compared with 3:1 for the overall Whistler Zone. This, in tandem with the
fact that Raintree West also contains lead and zinc mineralization, suggests
that this intercept may represent the periphery of a gold-copper porphyry
system.

<<
Table 1. Drill hole intercept calculations.
-------------------------------------------------------------------------
Gold
Equi-
From To Width Gold Copper Silver Lead Zinc valent
Hole (metres)(metres)(metres)(g/t) (%) (g/t) (%) (%) (g/t)(1)
-------------------------------------------------------------------------
RN-08-06 27 217 190 0.51 0.09 5.47 0.18 0.41 1.11
-------------------------------------------------------------------------
Including ((*)) 27 187 160 0.59 0.10 6.02 0.20 0.46 1.26
-------------------------------------------------------------------------
Including ((xx)) 106 130 24 1.37 0.13 6.32 0.36 0.80 2.42
-------------------------------------------------------------------------
Including ((xx)) 158 184 26 0.67 0.09 13.55 0.32 0.68 1.66
-------------------------------------------------------------------------

Intercepts calculated using a 0.3 g/t 'gold-equivalent cut-off' on a
minimum 10 metre width and maximum 20 metre internal dilution unless
otherwise noted. Gold-equivalent cut-off is based on the assumptions of
75% recovery of gold and silver and 85% recovery of copper, lead and zinc
and metal prices of US$550 per oz. gold, US$8 per oz. silver, US$1.50 per
lb. copper (as used in the Whistler Resource Estimation and filed on
www.sedar.com) and $0.60 per lb. lead and $0.45 per lb zinc representing
approximately 90% of London Metal Exchange prices on 30th October, 2008.
Gold Equivalent Grade (as opposed to gold-equivalent cut-off) is
presented on the basis of contained metal values assuming the above metal
prices without metallurgical recoveries taken into account and is done in
order to make a direct comparison to the gold value represented in the
gold assay grades.

((*)) Calculated using a 0.7 g/t gold-equivalent cut-off.
((xx)) Calculated using a 1.5 g/t gold equivalent cut-off.

All assays taken on average 2 metre samples of half sawn core and assayed
at Alaska Assay Laboratory located in Fairbanks, Alaska using Fire Assay
for gold and ICP for silver and base-metals. Standards and blanks were
inserted into the sample stream to monitor laboratory performance.
>>

Qualified Person

The technical content of this release was compiled by Darren Holden
(MAusIMM) - Chief Operating Officer of Geoinformatics. Mr. Holden is a
Qualified Person as defined under NI 43-101 guidelines.

About Whistler Project

The Whistler Project is located approximately 160 km. northwest of
Anchorage, Alaska. Whistler is one of the largest groups of contiguous mineral
claim blocks held by a single company in Alaska, outside of existing mines and
mine development projects.
The Whistler Zone hosts a NI 43-101 compliant Indicated resource of
30 million tonnes grading 0.87 g/t gold, 2.46 g/t silver and 0.24% copper and
an Inferred resource of 134 million tonnes grading 0.64 g/t gold, 2.18 g/t
silver and 0.20% copper. In addition, there is considerable mineralization in
the Whistler Zone that has been identified by drilling and reported in the
43-101 resource technical report filed on SEDAR (www.sedar.com), but has not
yet been categorized as a mineral resource.
The Whistler Zone is just one of a cluster of targets and prospects
within the 440 sq. km. block of 732 State of Alaska mining claims that make up
the Whistler Project. Most of these targets are covered by shallow alluvial
sediments and do not have the significant outcrop of the Whistler Zone, but do
have comparable geophysical, geological and/or geochemical signatures.

This news release includes certain forward-looking statements concerning
the future performance of Geoinformatics' business, operations and financial
performance and condition, as well as management's objectives, strategies,
beliefs and intentions. Forward-looking statements are frequently identified
by such words as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend" and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and expectations
of management. All forward-looking information is inherently uncertain and
subject to a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development, fluctuating
commodity prices, competitive risks and the availability of financing, as
described in more detail in Geoinformatics' securities filings available at
www.sedar.com. Actual events or results may differ materially from those
projected in the forward-looking statements and the reader is cautioned
against placing undue reliance thereon. We assume no obligation to revise or
update these forward-looking statements.

<<
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
>>
%SEDAR: 00007774E



For further information: Ms. Petra Decher, President & CFO, Tel: (416)
861-1300 x225, Email: petrad@geoinformex.com, Geoinformatics Exploration Inc.,
80 Richmond St West, Suite 303, Toronto, Ontario, M5H 2A4; Mr. Darren Holden,
Chief Operating Officer, Tel: (604) 605-3073 x105, Email:
darrenh@geoinformex.com, Geoinformatics Exploration Inc., 700 West Pender
Street, Suite 304, Vancouver, British Columbia, V6C 1G8, www.geoinformex.com

Kinross Announces Record Quarterly Production and Revenue

Kinross Gold Corporation (CA:K: news, chart, profile) (KGC:
KGC
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, , ) ("Kinross" or the "Company") today announced its unaudited results for the three and nine months ended September 30, 2008.
(This news release contains forward-looking information that is subject to the risks and assumptions set out in our Cautionary Statement on Forward-Looking Information located on page 14 of this news release. All dollar amounts in this news release are expressed in U.S. dollars, unless otherwise noted.)
- Gold equivalent production(1) was 551,510 gold equivalent ounces in the third quarter of 2008, an increase of 47% over the third quarter of 2007 and 36% over the second quarter of 2008, representing a new quarterly record for Kinross. Consistent with previously stated guidance, the Company remains on track to produce approximately 1.8-1.9 million gold equivalent ounces in 2008.
- Revenue was $503.7 million in the third quarter, an increase of 83% over the same period last year, also representing a new quarterly record for Kinross. Revenue was $1.13 billion for the nine months ended September 30, a year-over-year increase of 40%. The average realized gold price was $857 per ounce sold, compared with an average realized gold price of $686 per ounce in the third quarter of 2007, an increase of 25%.
- Cost of sales per gold equivalent ounce(2) was $406 in the third quarter, compared to $383 per ounce in the third quarter of 2007, and was $60 per ounce, or 13%, lower than the second quarter of 2008. Cost of sales per gold equivalent ounce is expected to be approximately $425-445 for the full year 2008, consistent with previously stated guidance.
- Kinross' margin per ounce sold was $451 in the third quarter of 2008, compared with $303 for the third quarter of 2007, an increase of 49%.

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Emerging Metal Miners Attractive to Value Investors

There appears to be an enhanced investment opportunity for long-term value investors in emerging producers selling near cost of investment or book value. We see the mining sector gaining in interest for value investors as they screen for companies selling at 52-week lows, below book value, and with potential to expand margins and earnings. Wholesale redemptions by investors, along with tax loss selling in both the U.S. and Canada, are creating opportunities for value investors looking to acquire companies with both real assets and the potential for increasing production.

Reduced global lending and investment, which caused a shortage of liquidity, has resulted in a deflationary environment unfavorable to commodities, including precious and base metal prices. Recent actions by governments and central banks are largely inflationary, which should lead to higher gold and silver prices as banks begin to lend and invest. A reduction in credit risk should spur a resumption of global growth, increasing demand for commodities and leading to higher base metal prices. While this cycle appears inevitable to long-term investors, this scenario may be delayed by credit markets or anti-growth policies including protectionism, higher taxes, and increased regulation.

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Full Metal and Highbury Drill 5.5m of 4.28 g/t Au at Moore Creek Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 11, 2008) - Full Metal Minerals (TSX VENTURE:FMM) ("Full Metal") and Highbury Projects Inc. (TSX VENTURE:HPI) ("Highbury") are pleased to announce that assay results have been received from a thirteen-hole, 1,878-meter drilling program at their Moore Creek gold project, located in the Kuskokwim region of West Central Alaska.

The 2008 drilling program followed up on the "Spring" and "Troy" zone discoveries made during the 2007 mechanical trenching program (see FMM 2007 NR #29, November 6, 2007). Both zones consist of northeast trending, steeply dipping, sheeted quartz veins ranging from one to ten centimeters thick with coarse gold and disseminated sulfides, and are hosted within pervasively silicified and tourmaline-altered monzonite of the early Tertiary Moore Creek pluton. Alteration intensity and grade appears to increase to the south, towards the Iditarod-Nixon Fork Fault. Channel samples from the Spring Zone assayed up to 8.86 g/t Au over 11.0m and from the Troy Zone assayed up to 88.5 g/t Au over 0.2m.

The discoveries occur at the headwaters of significant placer gold producing streams; State of Alaska Records (2005) report that Moore Creek has produced over 60,000 ounces of placer gold, often of an exceptionally coarse nature and noted for attached quartz vein rock. Mineralization is located adjacent to the Iditarod-Nixon Fork fault zone, which is also associated with NovaGold/Barrick's Donlin Creek gold deposit (M+I: 29.38M oz; Inf: 17.1M oz; NovaGold News Release Feb 7, 2008) located 90 km to the southwest of the Property.

Holes MC08-01 to MC08-05 and MC08-09 to MC08-12 tested the Spring Zone and Holes MC08-06 to MC08-08 and MC08-13 tested the Troy Zone. Strong alteration was encountered with zones of silicified and tourmaline-altered monzonite with stockwork quartz veins (up to 79 cm wide) and disseminated-massive arsenopyrite, chalcopyrite, pyrite, and rare pyrrohtite intersected in the majority of the holes. Results are as follows:

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